ABOUT FIRST READ

First Read is an analysis of the day's political news, from the NBC News political unit. First Read is updated throughout the day, so check back often.

Chuck Todd, NBC Political Director

Mark Murray, NBC Deputy Political Director

Domenico Montanaro, NBC News Political Reporter



Obama camp on small businesses

Posted: Monday, August 04, 2008 2:54 PM by Domenico Montanaro

From NBC's Alex Wall
Fresh off Obama’s speech on energy earlier today, his campaign wasted no time in attacking McCain on his small business plan. Rep. Nydia Velazquez (D-NY), chairwoman of the House Small Business Committee, and Obama campaign Director of Economic Policy Jason Furman called McCain’s small business plan a “laundry list of benefits for corporate America,” in a conference call this afternoon.

Furman blasted McCain’s corporate tax proposal, which he said calls for $4 billion in tax breaks to oil companies (including $1.6 billion to ExxonMobil), while citing “McCain’s lack of tax breaks for small businesses.”

Velazquez added that most small-business owners wouldn’t benefit from McCain’s tax plan, arguing that the group makes up only 4% of the taxpayers in the top income bracket. She contrasted the two candidates by touting Obama’s support for targeted investments into small business, while criticizing McCain for his lack of support for small business legislation.

“Sen. McCain is supporting the same tax policies that have been supported by President Bush,” Velazquez said.

On Obama’s tax proposals: Furman called Obama’s plan an “overall business agenda” and pointed to two “key” small business tax credits in Obama’s plan: (1) a health care tax credit, and (2) an exemption from the capital gains tax. When asked to define a cutoff for how small a business had to be to qualify for the health care credit, Furman said, “It would be more than 10 employees” yet wouldn’t give an exact number before working with the Treasury.

“The key thing is to lower the cost of health care for small businesses,” Furman said.

MAIN PAGE

Email this EMAIL THIS

Comments

Once again, in the false guise of wanting to help "grow the economy" by helping small businesses, McBush is only helping the giants like Exxon. Obama's the one with a plan to help small businesses, which are now crippled by paying healthcare costs. Another good one for Obama.
Can anyone tell me what McCain will do for America?  Please tell me what is he going to do to help the average America?
America's brain washing continues sponsored by Fox News, Sean Hannity, Rush Limbaugh and America's Right Wing Public Radio.
The majority of American people do not know how to investigate and learn for there own insight. Everything that the media outlets listed above presents to America it must be gospel. If Fox News said Obama was Japanese 55% of the American people would believe it.
 
Further, if you ask them how do they know that? They would say I read on the internet or I heard it on Fox News. Those people are so closed minded, they refuse to listen to another view point. Fox News wants to demonize Obama as someone evil and out of touch with America and someone who is un-patriotic. So of course; a lot of Americans just follow along with the crowd and say, OK, Dah, Ok.

Thank God some Americans will at least give this man a fair chance to make his case for the presidency of the United States of America.
Obama 08/12
Obama has no other options but to barrel blast McCain from now until November since the corporate mass media is so easily enthralled by the GOP's antics. This is the only way Obama can hope to stay on message and debate policy...I say...keep the guns blazing. Who knows..maybe we'll see something about McCain being funded by the big oil execs at Hess after his flip flop on drilling. No..maybe that's too much like "real news".
This is a machine....hopefully the Obama administration works this well.
What?  No snide remark from Tucker Bounds yet?
Richard, Washington State (Sent Monday, August 04, 2008 1:37 PM)

Yes, I'm aware of Pickens plan, I was using a good bit of irony when saying "let's drain the reserve" meaning, "Drill it all" - my point, which maybe you missed is SOME people won't vote for change until it is gone.  I say, make it gone then.  The sooner we open the discussion, the sooner we move forward.  Sorry you missed my sarcasm.
Sen. Obama understands that healthcare benefits crush small businesses..a plan that would the ease that burden would help their bottom lines.

McSame offers ...more of the same.
will the real McCain please stand up?

the highest supporting senator of George Bush in 2007, and is 100% behind Bush in 2008... does that sound like he's looking to change this countries direction?  take a look!

http://arcanebliss.newsvine.com/_news/2008/06/08/1552947-mccain-voted-with-bush-95-of-the-time-in-2007
Does anybody understand any of this double speak?
I am begining to believe the posts from the side of the Republicans...Has McCain not offered ANYTHING worth reporting on this blog??!! We debate Obama's proposals all of the time. Surely he (McCain) must have something concrete in writing that we can debate on!!??

Well maybe they (McCain's Campaign) will get around to putting something on here when they get done with Paris and Britney...First things first you know!!

Ronald Reagan, inexperienced celebrity?? http://www.dailykos.com/
Awwwww . . . First Read!?  Are these headlines too . . . boring for you guys?  The fact that you HAVE to report on the ISSUES?!

Lookout!  You're in danger of reporting (gasp!): REAL POLICIES, REAL NEWS!  

Sorry about the lack of 'drama', 'soundbites' and 'theater' but my boy is all business, all seriousness armed with empathy for the American People!

McCain isn't going to be good for anyone but oil and the other greedy corporations who rake in huge profits by pricing fundamental necessities higher and higher.

I guess sooner or later, we'll all have to go to work for oil companies so we too can donate $28, 500 to the RNC-McCain fund:

http://tpmelectioncentral.talkingpointsmemo.com/2008/08/hess_corporation_office_manage.php
McCain... his position on this economy is "no change" is the safe bet.  Won't roll back the Bush Tax cuts that benefit the rich.  His record speaks for itself...

http://arcanebliss.newsvine.com/_news/2008/06/08/1552947-mccain-voted-with-bush-95-of-the-time-in-2007
I have to say that as a small business owner, the GOP does nothing for me.  Their tax cuts have not helped my business a smidgen.  Their opposition to health care reform is even worse.  I am being bludgeoned by payroll taxes which were set up to minimize the burden for the wealthy.  I'm not saying the Democrats are great (many do want to legislate and regulate me to death), but the GOP would just as soon have Walmart put me out of business.  Uggh.
More great ideas from Senator Obama

1.  A healthcare plan that isn't mandatory but allows you to join if you have a pre-existing condition.  Why join when you are healthy and pay premiums (no matter how affordable).  Just wait until you need healthcare and then join with no penalty.  Perhaps they could have instant sign up in the emergency room?

2. A $4000 college tuition credit for 100 hours of community service.  Where else can an unskilled worker get a job that pays $40 per hour?  Why stop at students.  How about a $4000 mortgage credit for community service or a $4000 car payment.  I could cover my groceries for the year by doing 2 hours a weekend at the soup kitchen!

3. Tax every company that produces carbon, accept that they'll raise prices to consumers, and then rebate the consumers the tax that you've just raised.  Don't forget that the government will subtract $15b a year for research into renewable energy sources and the cost of the bureaucracy needed to collect the tax and calculate the rebate.  Also we'll need the government to distribute the grants from the $15b to worthy ideas.  Who gets to choose?  Remember Barack is a strong supporter of corn-based ethanol and that's a winner.  So far it's adding to global warming and driven up food prices.  

BTW Does renewable energy exclude building a wind farm in Nantucket Sound because we don't want to ruin the view for Ted (Kennedy) and John (Kerry).

4. Deploy more troops to one of the most xenophobic countries in the world with no exit strategy, to fight terrorists who are actually in a neighboring country which is an ally.  However, he reserves the right to unilaterally attack the terrorist bases in the other country and  will accept the collateral damage that these attacks may incur. Do the names Vietnam and Laos mean anything?

5. To combat high energy prices he will impose a windfall tax on the oil companies and distribute a rebate check to everyone / every tax payer / car owners / truck owners.  Why stop there?  There is worldwide inflation in every commodity which is being passed on to the consumer so why not tax gold mines, steel producers, chemical companies etc.  

6. Raise taxes to save Social Security.  This is a shell game.  There is no lockbox.  Currently more taxes are paid in than benefits are paid out.  The difference is used to buy government treasuries which in other words means it is used as current expenditure by the government of the day (Republican or Democrat).  Any increase would just be used by the current government to fund current year appropriations.  When the time comes that benefits exceed income the government (of the future) must pay the cost of the treasuries from current income i.e. taxpayers (of the future).  Either, the surplus must be stored in something other than treasuries e.g. stocks, bonds etc or benefits have to be cut; raise the retirement age so that the number of contributors can support the number of retirees.
The MSM is controlled by the GOP and big money that's why you guys aren't fair in reporting on the candidates. MSNBC, FOX and CNN have lost all credibility. If I want real news, I may as well watch my local stations because you guys, in the MSM, are foolish.

Please be so kind and share with your commentators (Not Keith O. he's great).

P.S. I will keep bashing the MSM until I see fairness with you guys. Censor if you like I dont care.
Thank you so much!
Looks like McCain got a payoff from oil companies after declaring for offshore drilling - including $57,000 from an office manager and her Amtrak foreman husband!

http://strategy08.wordpress.com/2008/08/04/fun-developing-story-at-tpm/
Today was a good polling day for McCain, who leads in a poll from Arizona, from Florida and in his first tracking poll since MAY: http://campaigndiaries.com/2008/08/04/polling-roundup/
I think it smart for the Obama campaign to hit Sen. McCain on this issue.  Republicans often tout that they are the party of small business (because they are for lower taxes).  But I think the case can be made by the DEMs that the GOP really favors big business.  And I am surprised that I don't see Democrats painting that narrative more.  And I've oft' wondered why.
I would hope that there would be some incentives and ways for companies to collective buy health insurance.  This is one reason why there are Employee Leasing Companies.  

Would it be possible to require the IRS to have companies not file information and returns on personal tax returns?  That would be one thing that I would.  With that, all businesses would be playing under the same rules.  There would be no small sole proprietor having to add all the business he does to his person income tax return.  

Also, I know that there is a lot of paper work for various agencies.  Is it possible to have Congress (or the next president) to request all the agencies to work together on drafting forms so that they can use the same ones?  I know that cross agency cooperation is rare, but that is what some businesses need to work better with the government (or around the government.  
I own a small 10 year old business in Texas with 5 employees. If all Obama has is a capital gains tax exemption (which I will mostly not benefit from) and health care tax credit (if you have more than 10 employees), what do I stand to gain from him? Nothing. He needs to come with something better than that for people like me to get my vote. Or look at what Hillary had on the table when she ran. The alternative is obvious. John McCain gets my vote.
Can we report on the fact that properly inflating tires saves more gallons of gas per day than drilling in ANWR? MSM?!?

McCain is a sad, sad shell of his former self...
WHY ON EARTH ARE WE GIVING EXXON A TAX BREAK ?

What is McCain and the Republicans thinking ?
Exxon just announced the biggest profit in corporate history !!

John McCain IS more of the same !!
He's George Bush's third term !!

No wonder he's talking about Breiiney and Oaris


Take a nap John, you've3 had a long morning and you're getting cranky
So Clara:
Either you are for dismantling and paralyzing our entire Army, Navy and Air Force or you're OK with them going 100% nuclear or back to sail boats.
I'm also thinking that earth moving machines (highway construction etc.) probably won't be running on electric or wind power anytime soon.  I think it takes great big diesel powered trucks to haul those massive wind turbines to their locations.  Will you make an exception for that?
Or do you just wish to take away the benefits of oil related products from all the little people?
Richard, Washington State (Sent Monday, August 04, 2008 1:49 PM)

Let's not forget coal.  We have huge coal here.  Kind of a retro send back to the industrial revolution?  Can't stop a freight train!

As Willy Wonka says, "We have to go back to go forward!"

Not sure where the umbrage has occurred; but I support Obama.  I also think we can't have a real discussion about it when some people act like ostriches (pl?) and bury their heads in the sand.  Be clear, where do you stand?

Nice circular logic to say I don't support our troops.  Wow, you Repubs are gggggoooooooodddddddd.  (more sarcasm).  
Yes, how about that. Lets not tax the small businesses to death because 1) They employ a lot of people 2) See #1.

Got to get the money to pay people who don't work from somewhere though, right Barack?
I almost started laughing today when McCain put out a statement requesting Obama to urge his democratic collegues to return to the house and "vote" on the off shore drilling issue...

My question is... why should they, we know he wouldn't.

http://blog.washingtonpost.com/capitol-briefing/2007/05/mccain_misses_42_straight_vote.html
Ummm... Lower cost for Health Insuarance by making it government run. Sounds wonderful!  Yea right.  Another entitlement program that will out grow all others.  Sounds like more taxes across the board if you ask me.  I can feel the Democrats in my pocket already.  You Obama supporters really need to get off the kool-aid and start to think logically.
McCain's only energy plan is to make fun of Obama for having one. Since they can't answer him on substance, they're just passing out tire guages to mock him for including every day things anyone can do to help stretch their gas dollar.

Well, you know what, Mr. McCain? I'd like one of those guages, because I do check my tire pressure. See, I'm not wealthy like you and your republican buddies so I really do have to do everything I can to save gas.

Thanks for your insult and ignorance. You remind me daily of why things have got to change.
" ...America's Right Wing Public Radio."
Capt. Smash, Salt Lake City, Utah
--I haven't noticed PUBLIC radio programs to be right wing (if anything slightly left).  Maybe you listen to something I'm not aware of.

--Oh, you left people like Keith Olbermann of your list of biased commentators.  But I guess if the message fits your specific view of reality, then brainwashing is okay.

Ooookay.
McCain taxes are voted against Bush tax cuts. McCain now supports Bush's Tax cut for the wealthy. He reversed his position when he started running for the presidency. McCain Flipflopping on Taxes.
Obama vs McCain on Taxes
http://www.youtube.com/watch?v=cNyNv_UfFUo

Non-Partisan Tax Center: McCain Plan Favors The Wealthy
http://firstread.msnbc.msn.com/archive/2008/06/12/1136892.aspx?CommentPosted=true#commentmessag

Tax Progressivity Discussed on CNN !
http://www.youtube.com/watch?v=9fbxpMw4mco&eurl=http://www.daily


I have to say that as a small business owner, the GOP does nothing for me.  Their tax cuts have not helped my business a smidgen.

Robin, Williamstown, MA

So if I read this right, you won't mind one bit when Obama raises your business taxes? I guess you'll have a choice then. Either take a paycut for yourself, or cut employees.
To the posters who are complaining that Obama changed his tune on the Strategic Reserve; you know the "Rainy Day Republicans"...how many dollars per gallon did you folks have that "Rainy Day" set for??!!
(There is not enough oil in the reserve to fight a protracted "Rainy Day WAR" because we do not have the capicity to refine the reserve oil fast enough.) The quicker we get this country on footing with Energy Alternatives, the more quickly we can refresh and refurbish of Military!! If all of the "little people" who have to wait (until you rich Republicans get to your "rainy day threshold"), before they can possibly get some relief; cannot therefore get to work...pretty soon no one is paying "taxes" cause no one is working! (Don't worry, you will know it's here when the gardener doesn't show up!)

If we are waiting for the worldwide markets to crash in order for the price of oil to come down...we are all on a fool's mission!!
Alan from NJ, I see your brain washing has been completed by Fox News.
WALLSTREET JOURNAL;  BY HENNINGER  

"IS JOHN MCCAIN STUPID?"

"IS MCCAIN LOOSING IT OR WHAT?  ON SUNDAY HE SAID ON NATIONAL TELEVISION THAT TO SOLVE THE SOCIAL SECURITY "EVERYTHING'S ON THE TABLE" WHICH OF COURSE MEANS RAISING PAYROLL TAXES.  ON JULY 7, IN DENVER MCCAINE SAID "SENATOR OBAMA WILL RAISE YOUR TAXES.  I WON'T."

"THIS ISN'T FLIP-FLOP, IT'S A SEX CHANGE OPERATION."

"WHAT I AM ASKING IS DOES JOHN MCCAIN HAVE THE "MENATL FOCUS, THE INTELLECTUAL DISCIPLINE, TO AVOID BEING OUT-SLICEKED BY OBAMA, IF HE ISN'T ABONDON BY HIS OWN VOTERS?"

"IT'S JUST NOT TAXES, RECENTLY THE SUBJECT CAME UP OF AL GORE'S ASSERTION THAT THE U.S. COULD GET ITS ENERGY SOLELY FROM RENEWABLES IN 10 YEARS, SEN. MCCAIN SAID, "IF THE VICE PRESIDENT SAYS IT'S DOABLE I BELIEVE IT'S DOABLE"

IN A LATER INTERVIEW SEN. MCCAIN SAID HE DID NOT READ ALL THE SPECIFICS OF THE GORE PLAN AND NOW, "I DON'T THINK IT'S DOABLE WITHOUT NUCLEAR POWER."

THIS WEEK IN A SAN FRANCISCO IN AN INTERVIEW WITH THE CHRONICLE SEN. MCCAIN CALLED NANCY PELOSI AN "INSPIRATION TO THE MILLIONS OF AMERICANS"

OUR ASSESSMENT:

WHEN MCCAIN SPEAKS HIS OWN MIND, HE AGREES WITH BARACK AND THE DEMS, HOWEVER WHEN HE'S PRESSURED BY THE REPUBLICANS TO REMEMBER THAT THEY WON'T SUPPORT HIM IF HE SAYS WHAT HE BELIEVES, HE BEGANS...............PANDERING............., FLIP/FLOPS AND IT'S OBVIOUS THAT HE BEING LEAD, JUST AS HIS CAMPAIGN SAID..................

"SEN. MCCAIN DOES NOT SPEAK FOR THE CAMPAIGN".........UM?
Richard, Washington State (Sent Monday, August 04, 2008 1:37 PM)

Why is it that you conservatives think condescension is the only way to communicate your points of view?  You are not dealing with LIVs here - please stop treating us as if we are less than smart.

To Clara's point, don't you think Mr. Pickens COUNTS on the fact that not everyone knows his background or motives?  Maybe she's taking what he's saying at face value from his ads or whatever.  Maybe she shouldn't have.  In any case, yes we need to do everything imaginable - but what we (libs and indies like myself) are trying to say is that everything might not be enough.  No solution is going to solve the problem tomorrow.

I do like reading your posts, even though I don't always agree with them.  I think we'd get farther if we stopped treating each other like errant children and listened to what the other had to say.  
Ummm... Lower cost for Health Insuarance by making it government run. Sounds wonderful!  Yea right.  Another entitlement program that will out grow all others.  Sounds like more taxes across the board if you ask me.  I can feel the Democrats in my pocket already.  You Obama supporters really need to get off the kool-aid and start to think logically.
GA,Edgewood, Kentucky (Sent Monday, August 04, 2008 3:31 PM)


AMEN!
Larry, there will be no tax raising by Obama for 95% of americans, and provisions set aside for small business on capital gains increases.  

But I guess you're happy that the middle class is a thing of the past due to this administrations failed economic policies and senators like McCain supporting Bush, every step of the way.

Which reminds me, care to tell me what McCain meant when he said "nothing is off the table" when it comes to Social Security including capital gains?
america had better wake and soon to see that mccain is about as bright as the dark side of the moon. he has nothing at all to offer but cynical talking points and the msm continues to promote him and many americans still walk around in a daze of republican ineptitude. wake america while we still have a chance to change things at the very least for the hope a better tomorrow. besides, mccain looks sickly to me.
Can we report on the fact that properly inflating tires saves more gallons of gas per day than drilling in ANWR? MSM?!?


I wish I was a political celebrity...l (Sent Monday, August 04, 2008 3:29 PM)
------------
Please show us the facts to support your statement so we can read it for ourselves.  If you don't have a report of such, then quit passing along untrue gossip.
This is the Obama that i like. He needs to continue to hit McCain if he is to remain successfull. McCaindoesn't have any real plan for average America
This is the Obama that i like. He needs to continue to hit McCain if he is to remain successfull. McCaindoesn't have any real plan for average America
Why Capt Smash?  Have I distorted anything?  Also, I don't watch Fox News I actually prefer MSNBC.  I'm just able to think for myself.  Listening to BO supporters twist in the wind as their candidate changes position is like reading 1984 when Winston Smith had to change history on a daily basis.  BTW I was in MI when GM announced that they were closing truck plants and ramping up production of the Volt for 2010.  What is BO going to do to improve this?  Give them tax breaks on their losses?  Maybe he could re-write their business plan for them?  It seems he is in love with 5 and 10 year plans.  
Since John McCain has nothing new to offer our country, he has no choice but to resort to juvenile tactics like his ads comparing Senator Obama to Britney and Paris. It's generally accepted that George W. Bush will go down in history as a collosal failure. Bush has done great damage to our country. Clearly John McCain doesn't take any of this seriously.
it seems a little ironic that the same republicans that are always screaming about socialized medicine being the ruination of all are the ones that have socialized the financial industry, stock market and the wealthy elite class. uncontrolled capitalism is a disease that needs to be brought under control like any other plague
Rumor has it that Obama is picking Evan Bayh on Wednesday.

Obama/Bayh '08

Indiana goes Blue
Ohio goes Blue
Michigan remains blue
Iowa goes blue
Wisconsin goes blue
Missouri goes blue

Obama/Bayh for better America and restoring common sense to government.  
Richard, Washington State (Sent Monday, August 04, 2008 1:37 PM)

Why is it that you conservatives think condescension is the only way to communicate your points of view?

MI Chick

Oh, now this is rich. McCain, just like Hillary, is called everything but gentleman (lady in Hillary's case) and the liberals now are worried about condescension?

You need to grow a set.


SEND A COMMENT

PLEASE READ: All comments must be approved before appearing in the thread; time and space constraints prevent all comments from appearing. We will only approve comments that are directly related to the blog, use appropriate language and are not attacking the comments of others.

Message (please, no HTML tags. Web addresses will be hyperlinked):

TRACKBACKS

Trackbacks are links to weblogs that reference this post. Like comments, trackbacks do not appear until approved by us. The trackback URL for this post is: http://firstread.msnbc.msn.com/trackback.aspx?PostID=1246107

First Read e-mail alerts


Sign up for First Read alerts
The first place for key political news and analysis

Syndicate This Site

Add First Read to your news reader:
live.com xml
myyahoo msn
bloglines newsgator
google